The following are the factors to consider before applying for a fixed deposit:
Company | Rating | Period | Rate of Interest |
---|---|---|---|
Bajaj Finance Ltd | FAAA by CRISIL, MAAA by ICRA | 3 years and above | 7.85% |
DHFL Aashray Deposit Scheme | AAA by CARE and FAAA by BWR | 1 year | 7.70% |
GRUH Finance Ltd | FAAA by CRISIL, MAAA by ICRA | 1 year | 7.25% |
HDFC Premium Deposits | FAAA by CRISIL | 15 months | 7.15% |
Bank fixed deposits, one of the most sought-after savings schemes for millions of investors in India, offer higher rates of interest than savings bank accounts. The rates of interests for fixed deposits vary depending on the bank. Bank fixed deposits are regulated by RBI, which guarantees up to Rs.1 lakh against insolvency of the bank. Bank fixed deposits typically offer lower interest rates compared to corporate fixed deposits but provide assured returns.
The table below shows high interest rates offered by some banks on fixed deposits:
Name of the bank | Duration | Rate of interest |
---|---|---|
Bandhan Bank | 1 year to less than 2 years | 7.15% |
RBL Bank | 1 year to less than 2 years | 7.10% |
Repco Bank | 1 year to less than 2 years | 7.25% |
IDFC Bank | 1 year and 1 day | 7.5% |
Lakshmi Vilas Bank | 725 days | 7.25% |
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